After President Trump and the Betsy Devos Education Secretary criticized giving private colleges and universities with great endowments, it helps in the law of care, the richest institutions such as Harvard, Yale and Stanford Universities had their share of money in the last package of Relief of Coronavirus. .

Under a given provision noted on the approved invoice two weeks ago, private higher education institutions that were required by a 2017 law to pay a special 1.4 percent tax on net income of Investment Not only did your help. , they were forbidden to use money, may cover their financial losses of the pandemic. The distress bill allows them to use support on emergency grants to students or pay for personal protection teams and other health and safety costs associated with the Coronavirus. Higher education received around $ 23 billion in legislation.

The arrangement affects some 30 private universities and universities that have to pay the tax because they have at least 500 students and assets that pay the registration of at least $ 500,000 per student, said Steven Bloom, the American Council of Director of Government Relations of Education. However, that number is constantly changing, particularly during the economic fall of the pandemic, since the value of the endowments fluctuates above and under the threshold.

spokespersons for the Department of Education and Senator Josh Hawley, a Republican of Missouri. , which has pressed to keep institutions well endowed with receiving Covid-19 relief, did not return the consultations. But a higher education lobby said that the white house apparently was pushed by the White House during the negotiations.

The provision is apparently a wink to Devos, Trump and some Republicans of the Senate, who had criticized the universities with the large endowments that could be immersed in part of the $ 14 billion in aid to the law of Care assigned to colleges and universities.

triumph, for example, criticized the idea of ​​giving Harvard, which had a $ 39.4 billion envelope in 2019. Some help. "They have one of the biggest endowments in any part of the country, perhaps in the world, I suppose, and they are going to pay that money," Trump said.

"Rich institutions that do not provide mainly serve low-income students do not need or deserve additional funds from taxpayers," said Devos. He also urged Congress to change its rules to distribute stimulus funds. "This is a common sense. Schools with great endowments should not request funds, so you can give more students who need support more," he said.

In May, four Republicans of the Senate, led by Hawley, co-sponsored a bill that would prohibit universities greater than $ 10 billion to receive reception act funds, unless they spend 10 times The amount of federal funds assigned to them in Financial Assistance related to Coronavirus for students.

In response to criticism, some institutions such as Harvard, Princeton and Stanford Universities decided to give up accepting their share of care funds.

"It seems that mostly a political statement to avoid last spring twitter debates," said Jackson Nell, Senior Analyst of Education Research Company, Eab, who mentioned the provision in a blog post . "Harvard is probably happy to be out of the picture."

The spokespersons for Harvard and Princeton did not have an immediate reaction.

Exactly how much the provision will cost the universities could not be determined on Tuesday. The Department of Education, as well as the American Council of Education, were still finding out the number of institutions that will be obtained under a Formula Congress created in the bill to divide the money.

But Bloom and Jon Fansmith, Ace's Director of Government Relations, criticized the help of uniform universities. Some institutions, such as Georgetown University, opted for providing all their care from the students in need. Fansmith said cutting the amoun

Image of How to find a teaching job in Universities in China
Rate and Comment
Image of Secretary DeVos Announces More than $4 Billion Available in Emergency Education Grants for Governors to Help Students Continue Learning
Secretary DeVos Announces More than $4 Billion Available in Emergency Education Grants for Governors to Help Students Continue Learning

Secretary Devos announces more than $ 4 billion available in emergency education grants so that governors help students continue to learn $ 2.75 bil

Read more →

Login

 

Register

 
Already have an account? Login here
loader

contact us

 

Add Job Alert